Real estate agents could face fines of up to $110,000 or more if they are caught underquoting properties under proposed laws intended to clear the rot in Sydney’s housing market.

Underquoting has been widely reported in Sydney’s out-of-control housing market and involves agents advertising wildly conservative price guides to attract attention.

Agents engaging in underquoting know the home will fetch a far greater price, or even that their estimate falls below the owner’s asking price.

The Minns government is in consultation with the property sector as it prepares to draft legislation cracking down on bad faith practices to be introduced to Parliament within the next year.

It is also considering requiring a “price guide” on all property advertising.

Most states, including NSW, have exi

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